Business
No Chinese investments in Fuga Island: CEZA
August 5, 2020, 3:07 pm
MANILA – The Cagayan Economic Zone Authority (CEZA) has denied claims that China is acquiring Fuga Island in northern Philippines through investing and developing the island as a smart city but only to expand Chinese military presence. “We would like to correct the misconception attributed to… Read More
July inflation rate hits 2.7% as transport costs rise
August 5, 2020, 12:23 pm
MANILA – The country’s inflation rate slightly picked up to 2.7 percent in July, from June's 2.5 percent mainly due to higher transport costs, the Philippine Statistics Authority (PSA) reported on Wednesday. Inflation in July 2019 reached 2.4 percent. Last month’s figure brought the average… Read More
PNOC-EC eyes study to make oil, gas drilling marketable
August 5, 2020, 7:56 am
MANILA – The state-run Philippine National Oil Company - Exploration Corp. (PNOC-EC), along with the Department of Energy (DOE) and the University of the Philippines (UP), will conduct an extensive study to make the country’s 16 sedimentary basins marketable for oil and gas exploration, its… Read More
Gov’t considers tax perks for firms maintaining workforce
August 4, 2020, 9:19 pm
MANILA – The government is studying to provide tax incentives to companies that would maintain the number of their workforce amid the coronavirus disease 2019 (Covid-19) pandemic and community quarantine measures, Trade Secretary Ramon Lopez said on Tuesday. “We’re trying to consider for… Read More
24 banks, e-payment firms waive PESONet, InstaPay fees
August 4, 2020, 5:36 pm
MANILA – Some 13 financial institutions and digital payment firms are waiving their PESONet and InstaPay transaction fees until end-September this year while 11 banks will do it until yearend. In a statement Tuesday, the Bangko Sentral ng Pilipinas (BSP) released an updated list of banks that… Read More
PH stocks index regains footing, peso ends flat vs. USD
August 4, 2020, 4:03 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended Tuesday up after a two-day slide while the peso finished flat against the US dollar. PSEi gained 1.04 percent, or 59.58 points, to 5,775.50 points. All Shares rose by 0.84 percent, or 28.51 points, to 3,426.97 points. Mining and Oil led… Read More
PH's 35-day T-bill posts lowest rate Tuesday
August 4, 2020, 4:00 pm
MANILA – The rate of the Philippines’ 35-day Treasury bill (T-bill) declined to its lowest so far on Tuesday as demand for government securities remains up. The average rate of the debt paper slipped to 1.157 percent from 1.684 percent during the auction last June 30. The Bureau of the… Read More
PH coco fiber can tap potential in Switzerland
August 4, 2020, 10:25 am
MANILA – The Philippine coconut fiber has a potential market in Switzerland, Swiss Ambassador to the Philippines Alain Gaschen said on Monday. In a virtual meeting with reporters, Gaschen said Switzerland is looking at importing more products from the Philippines, particularly agricultural… Read More
SM Prime’s net income down 46% in H1
August 3, 2020, 8:17 pm
MANILA – SM Prime Holdings Inc., one of the leading integrated property developers in Southeast Asia, on Monday reported a 46-percent decline in consolidated net income in the first half of 2020 to PHP10.4 billion, from PHP19.3 billion during the same period last year. In a statement, the… Read More
IT-BPM industry drives expansion of PH office sector in H1
August 3, 2020, 8:12 pm
MANILA – The Philippine office market has continued to grow “making it unique in the world,” according to leading real estate firm Leechiu Property Consultants (LPC) in a recent study on the performance of the office, residential, and tourism sectors in the first half of 2020. From the… Read More
Cebu Pacific, PAL cancel domestic flights via Manila Aug. 4-18
August 3, 2020, 7:46 pm
MANILA -- Local carriers Cebu Pacific (CEB) and Philippine Airlines (PAL) on Monday night announced the cancellation of their flights to and from Manila from August 4-18, in line with the government's decision to revert the National Capital Region and neighboring provinces to the modified… Read More
Quarantines in MM, Cebu City drag manufacturing score in July
August 3, 2020, 6:37 pm
MANILA – The IHS Markit’s Manufacturing Purchasing Managers’ Index (PMI) for the Philippines reported a decline in July at 48.4 from a score of 49.7 in June. In its Philippines Manufacturing PMI report released Monday, it said the sustained general community quarantine (GCQ) in Metro Manila… Read More
Rates decline as demand for T-bills remains high
August 3, 2020, 6:23 pm
MANILA – The rates of the Philippines’ treasury bills (T-bills) declined anew Monday as demand remained high. The average rate of the 91-day paper slipped to 1.221 percent, the 182-day to 1.454 percent, and the 364-day to 1.749 percent. These were at 1.335 percent, 1.605 percent, and 1.758… Read More
MECQ for NCR, 4 other provinces to have positive effects
August 3, 2020, 6:19 pm
MANILA – Placing anew the National Capital Region (NCR) and four other provinces under the modified enhanced community quarantine (MECQ) for the next 15 days will not generally hit domestic growth, Finance Secretary Carlos Dominguez III said. In a message to journalists Monday, Dominguez said… Read More
Enough supply of goods, no need for panic buying: DTI
August 3, 2020, 6:15 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has advised the public against panic buying and hoarding. Lopez said there is enough supply of goods even if Metro Manila and four other provinces were placed anew under modified enhanced community quarantine (MECQ). In a… Read More
Peso ends sideways, stocks index down
August 3, 2020, 6:12 pm
MANILA – The peso ended Monday sideways against the US dollar while the Philippine Stock Exchange index (PSEi) ended in the negative territory primarily on worries on the continued rise of coronavirus disease 2019 (Covid-19) infections worldwide. The main equities index slipped anew after it… Read More
Oil price rollback effective on Aug. 4
August 3, 2020, 4:06 pm
MANILA – Oil companies will implement price rollback effective morning of August 4. In separate advisories, Chevron (Caltex), Cleanfuel, Flying V, Petro Gazz, Seaoil and Shell said they will cut diesel prices by PHP0.30 per liter and PHP0.25 per liter on gasoline prices. Chevron, Flying V,… Read More
Transition: Sectors to be closed under MECQ
August 3, 2020, 1:26 pm
MANILA – As President Rodrigo Duterte reverts Metro Manila, Bulacan, Cavite, Laguna, and Rizal to modified enhanced community quarantine (MECQ) from general community quarantine (GCQ), the Department of Trade and Industry (DTI) has reminded the public on the establishments that are closed under… Read More
Gloves required, no group workouts as gyms reopen: DTI
August 1, 2020, 4:52 pm
MANILA – The Department of Trade and Industry (DTI) has released a new memorandum circular (MC) listing additional health and safety protocols as gyms, fitness centers, and sports facilities have been allowed to partially reopen in areas under general community quarantine (GCQ) starting… Read More
No return to ECQ but address health workers’ concerns: Lopez
August 1, 2020, 4:37 pm
MANILA – Trade Secretary Ramon Lopez on Saturday reiterated the mindset of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) to revive the economy while fighting the coronavirus disease 2019 (Covid-19). Amid the call of medical groups to place Metro Manila… Read More
